What is one common consequence across all debt types for delinquent payment

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01-02-2021
Business

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What is one common consequence across all debt types for delinquent payment

Sagot :

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topeadeniran2 topeadeniran2 · Answer 1 · 2021-02-01T19:39:34-05:00

Answer: See explanation

Explanation:

You didn't give the options but I'll try help out.

A loan is said to be "delinquent" when the a borrower does not pay back the loan that was borrowed as at when due.

It should be noted that when a loan is delinquent, it has a negative effect on the credit score of the person and therefore might make it difficult for the person to be able to borrow in the future.

Sagot :

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